Riggs Marketplace, a Fry’s Marketplace anchored neighborhood shopping center in Chandler, sold for $5.05M ($276.85 PSF). Fry’s Marketplace was not included in the sale.
Located at 1065 E. Riggs Rd., Riggs Marketplace was 100% occupied at closing. Ryan Schubert and Michael Hackett with Cassidy Turley Arizona negotiated the sale on behalf of the buyer, an entity formed by A&C Properties Inc.
Joe Cattaneo is the President of A&C Properties Inc. Tim Gunnick of GDC/RE negotiated the sale on behalf of the seller, 436 Sterling LLC, an entity formed by Murray and Gaunt Partners.
“Having Fry’s Marketplace as an anchor tenant along with the recent construction of this fully leased retail center makes Riggs Marketplace a great fit for A&C’s portfolio,” Hackett said.
Built in 2003, Riggs Marketplace is located on ±12 acres within the Springfield master planned adult community.
In addition to Fry’s Marketplace, Riggs Marketplace tenants include national and regional retailers Planet Beach, Oxford Cleaners, Mulligan’s Golf, Dental Care, Great Clips, Nee Nails, Subway, Dollar Store, Jack-In-The-Box, Little Caesars and Panda Express.